What is procedure for condonation of delay u/s 460 vis-a-vis non filing of Annual Return and BS pertaining to FY 2014-15? Whether we need to get the oder of condonation first from CG, file form INC-28 and then file MGT-7, AOC-4 or whether we need to upload MGT-7 & AOC-4 first and then file application for condonation? Whether the delay is condoned without penalty or CG imposed penalites also?
Experts are required to clarify urgently.
AS PER SECTION 403 OF THE COMPANIES ACT 2013, IF THE COMPANY FAILS TO FILE ANNUAL RETURN IN FORM MGT 7 OR BALANCE SHEET IN FORM AOC 4 EVEN AFTER THE EXPIRY OF 300 DAYS ( AS MENTIONED UNDER SECTION 403), THEN PROVSION OF PENALITY SHALL BE APPLICABLE WHICH IS GIVEN UNDER SECTION 92 AND SECTION 137. AND ROC CAN GIVE NOTICE TO THE COMPANY TO SHOW CAUSE WHY FORM HAS NOT BEEN FILED DURING THE PERIOD OF 300 DAYS AND COMPANY IS BOUND TO FILL THE FORMS AND HAS TO COMPOUND THE OFFENCE UNDER SECTION 441 OF THE COMPANIES ACT 2013
My query is whether Company has to wait for ROC Notice and then reply it, file compounding etc OR it their any other way to proceed suo-moto??
Your reply quotes only provisions of the Act but this is not practical solution.
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